How much value do real estate brokers add? : a case study /
Sales commissions for residential real estate brokers historically average nearly six percent of a home's closing price. Do brokers add sufficient value to justify those commissions? We address this question using a unique data set pertaining to sales of faculty and staff homes on the Stanford...
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| Format: | Book |
| Language: | English |
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Cambridge, Mass. :
National Bureau of Economic Research,
c2008
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| Series: | Working paper series (National Bureau of Economic Research) ;
working paper no. 13796 |
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| Summary: | Sales commissions for residential real estate brokers historically average nearly six percent of a home's closing price. Do brokers add sufficient value to justify those commissions? We address this question using a unique data set pertaining to sales of faculty and staff homes on the Stanford University campus. We find no evidence that the use of a broker leads to higher average selling prices, or that it significantly alters average initial asking prices. However, those who use brokers sell their houses more quickly |
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| Item Description: | "February 2008" |
| Physical Description: | 23 p. : ill. ; 22 cm Also available online via the World Wide Web |
| Bibliography: | Includes bibliographical references (p. 16-17) |